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our deficit and a balanced and responsible way. for nearly two years now, i have been fighting for such a plan. one that would reduce our deficit by four trillion dollars over the next decade which would stabilize our debt and our deficit and sustain us for the next decade. that would be enough not only to stop the growth of our debt and the size of our economy and make it manageable. education and job training in science and research and all of those things that help us grow. step-by-step, we have made progress towards that goal. over the past few years and signed into law 1.4 trillion dollars in spending cuts. two weeks ago i signed into law more than $600 billion in revenue by making sure the wealthiest americans began to pay their fair share. when you add the money that we will save in interest payments on the dead altogether that adds up to a total of about 2.5 trillion dollars and deficit reduction over the past two years. not counting the $400 billion already safe from winding down the wars and i rock and afghanistan. we have made progress. we are moving towards our ulti
would be able to reduce the deficit by $150 billion. not a bad idea. and then if you could do all this and would only cost the average driver less than $1 per week per car, would that be a reasonable burden to impose? so i'm floating the idea. we are beginning discussions with senator mark warner of virginia. he was part of the gang of six, gang of eight. we are encouraged by what we're hearing from him. chairman bill shuster in the house came to our meeting in pittsburgh in november, and he said, listen, folks, we know that the central question congress will have to address next year is revenue. we are open to ideas. no guarantee that they can pass anything. but bill shuster is open to any and all ideas. so what i'm asking you to do is to join us in the battle that lies ahead this next couple of years and demand that congress provide long-term funding for transportation. you know, the big issue that every member of congress is concerned about is with deficits, long-term fiscal viability of the country and cutting spending and raising revenue, that combination is what people seem
house caprettto prioritize the government's bills. guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff d
its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the fist time in the more global renegotiation, what bernanke know and the government is they don't want the economy to be in another recession. probably it's going to be a slow process, but the final aim is there and everybody knows where we need to go. >> all right. let's remind you what's on today's show. we take a look out at the auto show. 5:30 eastern. spain is set to tap the bond market today. it's going to tell 12 and 18-month t bills. analysis is due in about 30 minutes' time. >>>
going to reduce the deficit. he knew that wasn't true and the deficit has gone through the roof and he said this to congress, deficit has gone through the roof since then. so he really -- there are a lot of republicans and one democrat, but there are a lot of republicans that didn't like his testimony. his testimony was false. and we'll see what happens. he's going to probably get the -- he's going to get it. a lot of things aren't being stopped. the republicans have not found a good way to stop things. and i'm not sure necessarily he should get stopped. this was the president's choice. the president did win the election. the president does have the right to make appointments and this is one of his appointments. but what he told congress was totally false and probably knowingly false. >> steve: i'm sure when he's called before that senate committee he's gog have an explanation of what he meant then and what he means now. >> they were tough statements and terrible statements and they couldn't have been more wrong. >> steve: yeah. turns out to be that case. all right. mr. trump, thank y
from the social media giant. plus, senator rob portman on the deficit battle shaping up in congress. "squawk box" starts tomorrow at 6:00 a.m. eastern. let's go. ♪ ♪ ♪ [ male announcer ] introducing the all-new cadillac xts... another big night on the town, eh? ...and the return of life lived large. ♪ nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro.
Search Results 0 to 5 of about 6